| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 March 2025 |
| for |
| Halkirk District Benefit Fund |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 March 2025 |
| for |
| Halkirk District Benefit Fund |
| Halkirk District Benefit Fund |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Halkirk District Benefit Fund (Registered number: SC281781) |
| Report of the Trustees |
| for the Year Ended 31 March 2025 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The principal activity of the company in the year under review was that of the promotion of the general interests of the Halkirk District Community Council area. |
| ACHIEVEMENTS AND PERFORMANCE |
| Charitable activities |
| During the year to 31 March 2025, a service agreement was entered into between Halkirk District Benefit Fund and Foundation Scotland for the latter to administer the charity's funds for a period of three years commencing 1 May 2024. A transfer of funds amounting to £598,847 was made to Foundation Scotland and appears as a donation in the statement of financial activities, net of support costs paid by Foundation Scotland on behalf of HDBF. Grant awards made by Foundation Scotland on behalf of Halkirk District Benefit Fund are disclosed in the notes to the financial statements together with a note of the balance held by Foundation Scotland at the year end. |
| During the year to 31 March 2025 the membership was invited to apply for grants to assist with projects which would benefit both Group and Individual members. |
| Grants awarded directly by HDBF totalled £60,215 with a further £131,997 paid through Foundation Scotland. |
| Amongst the awards were a number of small individual awards of no more than £1,500 to assist with the costs of attending sporting, coaching and educational training, courses and competitions. |
| FINANCIAL REVIEW |
| The directors consider the financial status of the company to be in a satisfactory state with surplus funds being invested on deposit at current rates of interest producing additional revenue. |
| Reserves |
| The reserve balances represent the unrestricted and restricted fund balances arising from past operating results. The directors are satisfied that the reserves will meet the working capital requirements of the company. |
| FUTURE PLANS |
| The directors will continue to publicise the fund and raise its profile through advertising and holding membership meetings. Member Groups and Individuals will be invited to apply for grants for projects that will benefit the community. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The company was incorporated on 18 March 2005 and is limited by guarantee, not having a share capital. The company was registered by the Office of the Scottish Charity Regulator as a charity under the Scottish Charity number SC039254 on 16 February 2008. |
| Each member of the company has undertaken to contribute an amount not exceeding £1 towards any deficit arising in the event of Halkirk District Benefit Fund being placed in liquidation. |
| Recruitment and appointment of new trustees |
| The directors, as the trustees are known, during the year of review to the date of this report are listed below. |
| One third of the directors retire in rotation annually but may be re-appointed for a further period of three years provided that no director shall serve continuously for a period of more than six years without there being a period of not less than one year when that person does not act as a director. |
| Halkirk District Benefit Fund (Registered number: SC281781) |
| Report of the Trustees |
| for the Year Ended 31 March 2025 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Organisational structure |
| During the year Foundation Scotland were appointed to administer the charity on behalf of the Trustees. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Reid & Fraser |
| Chartered Accountants |
| 15 Princes Street |
| Thurso |
| Caithness |
| KW14 7BQ |
| Bankers |
| Thurso |
| Caithness |
| KW14 7BL |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Halkirk District Benefit Fund (Registered number: SC281781) |
| I report on the accounts for the year ended 31 March 2025 set out on pages four to eleven. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention : |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Linda Cameron FCCA CTA CA |
| The Institute of Chartered Accountants of Scotland |
| Reid & Fraser |
| Chartered Accountants |
| 15 Princes Street |
| Thurso |
| Caithness |
| KW14 7BQ |
| 15 December 2025 |
| Halkirk District Benefit Fund |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 March 2025 |
| 2025 | 2024 |
| Unrestricted | Total |
| funds | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities | 4 |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 669,467 |
| Halkirk District Benefit Fund (Registered number: SC281781) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Unrestricted | Total |
| funds | funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 11 |
| Unrestricted funds: |
| General fund | 128,309 | 669,467 |
| TOTAL FUNDS | 669,467 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| Halkirk District Benefit Fund (Registered number: SC281781) |
| Balance Sheet - continued |
| 31 March 2025 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| Halkirk District Benefit Fund |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| INCOME |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| EXPENDITURE |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
| TAXATION |
| The charity is exempt from corporation tax on its charitable activities. |
| FUND ACCOUNTING |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| GRANTS AWARDED |
| Grants awarded are recognised in full in the year in which directors formally approve an award. Any grant awards unpaid at the year end are shown as liabilities in the balance sheet. |
| 2. | DONATIONS AND LEGACIES |
| Wind farm community income received: | 2025 | 2024 |
| £ | £ |
| For year end 31 March 2025 | 118,871 | - |
| For year end 31 March 2024 | - | 115,104 |
| 118,871 | 115,104 |
| Halkirk District Benefit Fund |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | INVESTMENT INCOME |
| 2025 | 2024 |
| £ | £ |
| Deposit account interest |
| 4. | CHARITABLE ACTIVITIES COSTS |
| Grant |
| funding of |
| activities |
| (see note | Support |
| 5) | costs | Totals |
| £ | £ | £ |
| Grants awarded | 60,215 | - | 60,215 |
| Administration | - | 1,728 | 1,728 |
| Foundation Scotland | 597,075 | 1,773 | 598,848 |
| 657,290 | 3,501 | 660,791 |
| 5. | GRANTS PAYABLE |
| 2025 | 2024 |
| £ | £ |
| Grants awarded | 60,215 | 93,501 |
| Foundation Scotland | 597,075 | - |
| 657,290 | 93,501 |
| Grants awarded directly: | 2025 | 2024 |
| £ | £ |
| Halkirk Village Council | - | 7,708 |
| Halkirk Primary School | - | 26,095 |
| Halkirk Guides | - | 2,193 |
| Halkirk Primary School Parent Council | 40,500 | 5,282 |
| Halkirk & District Community Council | - | 1,786 |
| Spittal Village Hall | - | 2,350 |
| Halkirk United | 10.000 | 4,905 |
| Cally Maxwell - Legends of Caithness | - | 10,000 |
| North Pilgrims Way | - | 19,971 |
| Ormlie Community Association | - | 317 |
| Halkirk Sports And Recreation Club | 6,715 | - |
| Individual grants up to £1,500 per award | 3,000 | 16,496 |
| Lapsed grants | - | (3,602 | ) |
| 60,215 | 93,501 |
| During the year, the following grants were paid to beneficiaries out of the funds transferred to Foundation Scotland, a charitable community Foundation, on behalf of Halkirk District Benefit Fund. |
| Grants paid by Foundation Scotland: | 2025 | 2024 |
| £ | £ |
| Sidh Chaillean Art | 5,397 | - |
| Halkirk Guides | 5,605 | - |
| Spittal SWI | 900 | - |
| Halkirk District Benefit Fund |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | GRANTS PAYABLE - continued |
| Halkirk Primary School Parent Council | 4,425 | - |
| Hearing & Sight Care | 6,832 | - |
| Halkirk Village Council | 20,500 | - |
| Spittal Village Hall | 1,500 | - |
| Thurso District Guide Supporters | 1,500 | - |
| Girlguiding Caithness Central West | 2,496 | - |
| HIE | 10,000 | - |
| CVG | 58,047 | - |
| Individual grants to 13 young persons and 3 adults | 14,796 | - |
| 131,998 | - |
| Grants totalling £2,968 were committed but unpaid by Foundation Scotland at the year end. |
| The value of the Halkirk District Benefit Fund held by Foundation Scotland was £465,077 at 31 March 2025. |
| 6. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| TRUSTEES' EXPENSES |
| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| 7. | STAFF COSTS |
| There were no staff costs during the current period or last period. |
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| funds |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| Halkirk District Benefit Fund |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted |
| funds |
| £ |
| TOTAL FUNDS CARRIED FORWARD | 669,467 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Wind farm - community income |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Grants awarded |
| Other creditors |
| 11. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.4.24 | in funds | 31.3.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 669,467 | (541,158 | ) | 128,309 |
| TOTAL FUNDS | (541,158 | ) | 128,309 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 119,633 | (660,791 | ) | (541,158 | ) |
| TOTAL FUNDS | ( |
) | (541,158 | ) |
| Halkirk District Benefit Fund |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 11. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.23 | in funds | 31.3.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 650,519 | 18,948 | 669,467 |
| TOTAL FUNDS | 650,519 | 18,948 | 669,467 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 120,608 | (101,660 | ) | 18,948 |
| TOTAL FUNDS | 120,608 | (101,660 | ) | 18,948 |
| 12. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 March 2025. If a director/trustee is connected in some way to a potential grant claimant, they withdraw from the decision making process and have no involvement in that grant application. |